World Asset Management Inc Raises Stake in Royal Gold, Inc. (NASDAQ:RGLD)
World Asset Management Inc raised its position in Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL) by 6.5% during the second quarter, Holdings Channel reports. The fund owned 4,351 shares of the basic materials company’s stock after buying an additional 267 shares during the period. World Asset Management Inc’s holdings in Royal Gold were worth $340,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Meadow Creek Investment Management LLC increased its position in Royal Gold by 6.2% in the first quarter. Meadow Creek Investment Management LLC now owns 1,648 shares of the basic materials company’s stock worth $115,000 after buying an additional 96 shares during the last quarter. Neuburgh Advisers LLC increased its position in Royal Gold by 6.2% in the first quarter. Neuburgh Advisers LLC now owns 2,266 shares of the basic materials company’s stock worth $159,000 after buying an additional 132 shares during the last quarter. Hexavest Inc. acquired a new position in Royal Gold during the first quarter worth about $166,000. US Bancorp DE increased its position in Royal Gold by 6.4% in the second quarter. US Bancorp DE now owns 2,120 shares of the basic materials company’s stock worth $166,000 after buying an additional 127 shares during the last quarter. Finally, Tyers Asset Management LLC increased its position in Royal Gold by 6.2% in the first quarter. Tyers Asset Management LLC now owns 2,884 shares of the basic materials company’s stock worth $202,000 after buying an additional 168 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors.
Shares of Royal Gold, Inc. (NASDAQ RGLD) opened at 86.38 on Tuesday. Royal Gold, Inc. has a 52-week low of $60.21 and a 52-week high of $88.03. The company has a market cap of $5.63 billion, a PE ratio of 55.73 and a beta of 0.68. The stock’s 50 day moving average is $82.40 and its 200 day moving average is $74.57.
Royal Gold (NASDAQ:RGLD) (TSE:RGL) last announced its earnings results on Wednesday, August 9th. The basic materials company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The business had revenue of $108.90 million for the quarter, compared to analyst estimates of $108.72 million. Royal Gold had a return on equity of 4.19% and a net margin of 23.03%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 earnings per share. Equities analysts forecast that Royal Gold, Inc. will post $1.91 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Wednesday, July 5th. Royal Gold’s payout ratio is 61.54%.
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A number of equities research analysts have commented on the stock. National Bank Financial cut shares of Royal Gold from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $80.00 to $82.50 in a research note on Thursday, April 20th. BMO Capital Markets restated a “buy” rating and set a $95.00 target price on shares of Royal Gold in a research note on Thursday, June 29th. Barclays PLC restated an “overweight” rating and set a $83.00 target price (up previously from $82.00) on shares of Royal Gold in a research note on Saturday, April 22nd. BidaskClub cut shares of Royal Gold from a “buy” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, Scotiabank raised their target price on shares of Royal Gold from $81.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, May 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Royal Gold currently has an average rating of “Buy” and a consensus target price of $91.59.
In other news, CEO Tony A. Jensen sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $85.00, for a total transaction of $2,125,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stefan Wenger sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $77.05, for a total value of $115,575.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,629 shares of company stock valued at $4,736,660. Corporate insiders own 1.37% of the company’s stock.
Royal Gold Company Profile
Royal Gold, Inc, together with its subsidiaries, is engaged in acquiring and managing precious metal streams, royalties and similar interests. The Company operates through two segments: Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. Its assets are located in Canada, Chile, Dominican Republic, Mexico, the United States, Africa, Australia and Other.
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